#HKCoEssentialsSeries

HK Co. Essentials - Annual Renewal (What you need to inform us)

Mar 2, 2019
3 min

HK Co. Essentials - Annual Renewal (What you need to inform us)

For Hong Kong private limited company, submission of Annual Return (NAR1) is the key filing document to complete the renewal process, stating all the particulars of the Company as at the latest anniversary date. IMPORTANT to have accurate and up-to-date information NAR1 is a public record available for search, it would be used by the banks, lawyers, and other government authorities for certified proof, review, verification and supporting documents for certain applications. O

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HK Co. Essentials - Annual General Meeting

Tim Yeung

Feb 25, 2019
3 min

HK Co. Essentials - Annual General Meeting

For Hong Kong private limited company, we are focusing on filing of Annual Return (NAR1) and renewal of Business Registration Certificate (BR), while often overlooked the importance to maintain good records in relation to Annual General Meeting (AGM). Missing AGM is an offence and might be prosecuted by Companies Registry Although no mandatory filing requirement on relevant documents of Annual General Meeting, this is an offence under Companies Ordinance and there were actual

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Tim Yeung

Dec 8, 2018
2 min

HK Co. Essentials - Deregistration

For Hong Kong private limited company, deregistration is one of the exit methods for closing of business, which is also a simple, common and straight forward option compare with liquidation (winding up). Conditions to apply Deregistration The company must meet the following conditions before making an application for deregistration: all the members of the company agree to the deregistration; the company has not commenced operation or business, or has not been in operation or

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HK Co. Essentials - Declare the Company Dormant

Tim Yeung

Dec 1, 2018
2 min

HK Co. Essentials - Declare the Company Dormant

For Hong Kong private limited company, at time of economic downturn, personal reason, or founder has accident; instead of wind-up the whole business, temporary suspension of business is also an available option, which is to apply and declare the company dormant. Benefits of applying the Company Dormant Company applied to become a dormant company are exempted from Annual Return filing and requirement of carrying out audits of its accounts. Also, if the company holds certain in

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HK Co. Essentials - Amendment (Change) of Articles of Association

Tim Yeung

Nov 11, 2018
3 min

HK Co. Essentials - Amendment (Change) of Articles of Association

For Hong Kong private limited company, instead of Memorandum and Articles of Association (“M&A”), we only issue the Articles of Association (“AA”) only; this is because the Memorandum mainly is to state the object clause of the company, where nowadays, a company in Hong Kong is free to engage any legitimate business, Companies Registry has abolished the Memorandum of Association during the launch of New Companies Ordinance in 2014. When should I amend/alter/change the Article

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HK Co. Essentials - Change of Registered Office Address

Tim Yeung

Nov 4, 2018
3 min

HK Co. Essentials - Change of Registered Office Address

Every private limited company in Hong Kong MUST have a registered office in Hong Kong for government authority to get contact with, mainly for notice and correspondence, and some occasions, on-site inspection. This article is to share with you some commonly ignored but important matters in relation to change of registered office address and how we can do it right to avoid any adverse consequence, either this is really your physical office or just because you decided to change

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Tim Yeung

Oct 28, 2018
4 min

FAQ - Change of Company Name

In last blog post, we shared some basic and essential information about Change of Company Name of a Hong Kong private limited company (link here); Companies Registry has provided FAQ section (link here) to answer some commonly asked questions, we also would like to share some interesting questions and respective answers where you may encounter in future. Q1. Can I have Italian / Japanese / Simplified Chinese characters in my company name? Company Registry currently only acce

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HK Co. Essentials - Change of Company Name

Tim Yeung

Oct 21, 2018
3 min

HK Co. Essentials - Change of Company Name

It is very important for the company having a good name. A good name can bring a broad development path to the company. In end of 2016, we shared a blog post on how to come up with a good business name (link here). Just in case you hare a brilliant company name that suits your business so well, and would like to change your company name, this article will share you how to do that. Availability of proposed company name Prior to proceed name change, we need to check whether the

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HK Co. Essentials - TCSP Licensee (Registered Agent)

Tim Yeung

Oct 19, 2018
3 min

HK Co. Essentials - TCSP Licensee (Registered Agent)

In last blog post, we discussed about the mandatory requirement of Know Your Customer (KYC), which all trust and company secretary service providers are required to follow. In this article, we will talk about TCSP License. When was the licensing requirement launched? To allow government regulates and monitors these providers, with effective from the 1st March, 2018, any services provider wishes to engage to relevant business, the company is required to apply for a TCSP licens

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HK Co. Essentials - Know Your Customer (KYC)

Tim Yeung

Oct 6, 2018
3 min

HK Co. Essentials - Know Your Customer (KYC)

In the past, around 10 years earlier, company setup and bank account opening were a piece of cake, everything could be done within a week. Since 2014, customers started experiencing hard time in bank account opening and Know Your Customer (KYC) process became mandatory in all banking and financial institutes. Background of Know Your Customer (KYC) The main purpose of KYC is quite straight forward, mainly are: Anti-Money Laundering (AML); and Counter-Terrorist Financing; Whil

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More Insights on HK Co. - Funding your Company

Tim Yeung

Sep 27, 2018
3 min

More Insights on HK Co. - Funding your Company

When talking about funding your company, or your need new capital to be injected to your company, usually your company secretary will advise you by means of Share Allotment, because it is simple, straightforward and easy to arrange. Yet, some of the time, we don’t want to increase the number of shares, perhaps because of certain shares restriction, shareholding portion balance, you want the money but not sacrificing the shareholding power, or simply to make the value per sha

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HK Co. Essentials - Significant Controllers Register

Tim Yeung

Sep 23, 2018
3 min

HK Co. Essentials - Significant Controllers Register

This article is to give a brief outline on the new legislative requirement (with effective on 1 March, 2018) of keeping and maintaining Significant Controllers Register (SCR) of all Hong Kong companies at the company's registered office or any other place in Hong Kong (where NR2 is required to specific and file to registry) . Background of Significant Controllers Register (SCR) The mandatory requirement to keep SCR is to fulfil the Anit-Money Laundering and Counter-Terrorist

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Tim Yeung

Sep 15, 2018
2 min

HK Co. Essentials - Allotment of Shares

This article is to give a brief outline on how to arrange allotment of shares of a Hong Kong private company. Difference between Share Transfer and Share Allotment The main difference between Share Transfer and Share Allotment is about the money flow. For share transfer, it is the new shareholder paying the existing shareholder as the purchase price of the shares on his/her hand, while share allotment, this is the company to allot new shares for new/existing shareholder to p

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Tim Yeung

Sep 3, 2018
2 min

HK Co. Essentials - Change of Director

This article is to give a brief outline on how to arrange change of directors of a Hong Kong private company. Director is the position specific under Companies Ordinance Unlike a director as a job title, the director in a Hong Kong private company has special power to control and manage the company, even to approve allotment of shares, and to acquire or dispose assets of the company. Normally, to add a director, such should be appointed by the Shareholders or the Board of Dir

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